Business News

Viet Nam’s GDP was estimated to expand 5.66 percent in January-March period, the highest rate over the same period since 2020, according to the General Statistics Office (GSO). The expansion is higher than previous forecasts of both Standard Chartered and UOB (Singapore) at 5.5-6.1 percent.

In a document sent to the Civil Aviation Authority of Việt Nam, the ministry said that the restructuring of some airlines’ fleet and flight networks, coupled with the recall of PW1100 engines by Pratt & Whitney for repair, have affected the load on both international and domestic flight routes, causing difficulties to passengers in terms of prices and schedules.

Ministries, sectors and localities need to drastically improve the business environment, including improving the efficiency in implementing reform. That was the message from Nguyễn Thị Minh Thảo, head of the Business Environment and Competitiveness Research Department at the Central Institute for Economic Management (CIEM).

Phan Duc Tu, chairman of BIDV’s Board of Directors, said, “Over the first 80 days of 2024, BIDV has disbursed loans totalling $18.95 billion to the economy. However, the figure is lower than its debt repayment of $19.55 billion. As of March 11, the bank’s outstanding balance contracted approximately 1 per cent compared with the end of 2023.”

In the six months since the historic upgrade of the US-Vietnam relationship to a Comprehensive Strategic Partnership, the United States and Vietnam have built on the momentum of our elevated relationship to advance bilateral cooperation across a range of areas.

The US' Milken Institute released the Global Opportunity Index (GOI) on March 5. The GOI remains a strong predictor of capital movements 10 years after its inception. The index alone explains 64.7 per cent of the variation in per capita foreign direct investment (FDI) inflows and 51.7 per cent of per capita portfolio inflows to countries across the world. The 2024 GOI report provides a global overview of countries' attractiveness and capital inflows.

A US Federal Reserve policy meeting is taking place this week on March 20 with the Fed forecast to retain the current base rate to deal with inflation concerns. The move will mean the US dollar remains at a high level, putting pressure on domestic currencies around the world.

Vietnam’s Index of Industrial Production (IIP) rose 5.7% year-on-year in the opening two months of 2024, according to the General Statistics Office of Vietnam.